BelgaPM: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
BelgaPM
Largest movements
- Cash -€171,886
down €171,886 (-44.3%), from €387,671 to €215,784
- Financial fixed assets -€74,888
down €74,888 (-30.6%), from €244,890 to €170,002
- Receivables within one year -€38,840
down €38,840 (-30.7%), from €126,566 to €87,726
of which Other amounts receivable: -€38,840
- Tangible fixed assets -€22,813
down €22,813 (-33.6%), from €67,798 to €44,985
- Reserves -€173,046
down €173,046 (-25.9%), from €668,019 to €494,973
of which Distributable reserves: -€173,046
- Tax, wage and social debts -€101,276
no longer reported in 2024 (was €101,276)
- Trade debts -€34,105
down €34,105 (-87.4%), from €39,030 to €4,925
- Financial income -€327,547
down €327,547 (-98.5%), from €332,599 to €5,052
- Gross operating margin +€142,259
up €142,259 (+70.1%), from -€202,885 to -€60,627
- Taxes -€24,300
down €24,300 (-76.7%), from €31,673 to €7,373
- Financial charges +€9,398
up €9,398 (+866.4%), from €1,085 to €10,483
of which Financial charges: +€9,473
From the 2022 result to the 2024 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2022 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €826,925 | €518,498 | -€308,427 | -37.3% |
| Fixed assets | 21/28 | €312,688 | €214,987 | -€97,700 | -31.2% |
| Tangible fixed assets | 22/27 | €67,798 | €44,985 | -€22,813 | -33.6% |
| Furniture and vehicles | 24 | €67,798 | €44,985 | -€22,813 | -33.6% |
| Financial fixed assets | 28 | €244,890 | €170,002 | -€74,888 | -30.6% |
| Current assets | 29/58 | €514,237 | €303,511 | -€210,727 | -41.0% |
| Amounts receivable within one year | 40/41 | €126,566 | €87,726 | -€38,840 | -30.7% |
| Trade receivables | 40 | €132 | €132 | = | 0.0% |
| Other amounts receivable | 41 | €126,434 | €87,594 | -€38,840 | -30.7% |
| Cash at bank and in hand | 54/58 | €387,671 | €215,784 | -€171,886 | -44.3% |
| Total equity and liabilities | 10/49 | €826,925 | €518,498 | -€308,427 | -37.3% |
| Equity | 10/15 | €686,619 | €513,573 | -€173,046 | -25.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €668,019 | €494,973 | -€173,046 | -25.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €666,159 | €493,113 | -€173,046 | -26.0% |
| Amounts payable | 17/49 | €140,306 | €4,925 | -€135,381 | -96.5% |
| Amounts payable within one year | 42/48 | €140,306 | €4,925 | -€135,381 | -96.5% |
| Trade debts | 44 | €39,030 | €4,925 | -€34,105 | -87.4% |
| Suppliers | 440/4 | €39,030 | €4,925 | -€34,105 | -87.4% |
| Taxes, remuneration and social security | 45 | €101,276 | - | -€101,276 | |
| Taxes | 450/3 | €101,276 | - | -€101,276 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,698 | €8,107 | -€1,591 | -16.4% |
| Other operating charges | 640/8 | €1,643 | €1,823 | +€180 | +10.9% |
| Gross operating margin | 9900 | -€202,885 | -€60,627 | +€142,259 | +70.1% |
| Operating profit (loss) | 9901 | -€214,226 | -€70,556 | +€143,670 | +67.1% |
| Financial income | 75/76B | €332,599 | €5,052 | -€327,547 | -98.5% |
| Recurring financial income | 75 | €332,599 | €5,052 | -€327,547 | -98.5% |
| Financial charges | 65/66B | €1,085 | €10,483 | +€9,398 | +866.4% |
| Recurring financial charges | 65 | €785 | €10,258 | +€9,473 | +1207.1% |
| Non-recurring financial charges | 66B | €300 | €225 | -€75 | -25.0% |
| Profit (loss) for the period before taxes | 9903 | €117,288 | -€75,987 | -€193,275 | |
| Income taxes | 67/77 | €31,673 | €7,373 | -€24,300 | -76.7% |
| Profit (loss) for the period | 9904 | €85,615 | -€83,360 | -€168,975 | |
| Profit (loss) for the period to be appropriated | 9905 | €85,615 | -€83,360 | -€168,975 |
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.